Mobility Fintech Moove Teams Up With Uber UK To Add 10,000 Electric Vehicles In London
A colleague of mine was recently in London. He told me that he estimates that about 75% of his Uber rides on this recent trip to the UK capital were in electric vehicles. Quite a few of these trips were in Teslas. He was quite excited about this. London is the global leader of Uber’s electrification efforts with over 6,000 electric cars on the platform – the most of any Uber city. Uber has a goal of becoming an all-electric platform in London by 2025.
Moove, the world’s first mobility fintech, has just announced a partnership with Uber in the UK. Moove is Uber’s largest car supply partner in EMEA and is now launching in London as part of its global expansion. Moove was founded by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi. The company was launched in Lagos, Nigeria, in 2020 and has now scaled to nine markets in sub-Saharan Africa and India.
Moove is launching in Europe with a 100% EV rent-to-buy model that provides access to brand new, zero-emission vehicles for a fixed weekly fee. Moove aims to be the largest electric car partner on Uber’s platform in London with plans to scale to up to 10,000 vehicles by the end of 2025, creating sustainable revenue opportunities and contributing to the city’s net zero carbon goals. As part of the launch, Moove has also rolled out Moove Charge™, the first end-to-end and complete EV charging network app solution specifically for drivers that provides access to one of the largest roaming networks in the city. Moove is leading the charge in the mobility fintech sector, a white space it created that solves the challenge of limited access to vehicle finance for millions of gig workers across the courier, logistics and instant delivery sectors, of which there are around 4.5 million in the UK alone .
Moov’s announcement adds:
Moov’s alternative credit scoring technology provides access to vehicle financing to gig worker customers who may have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to assets with its customers who have completed over 7 million trips in Moove-financed vehicles.
In London, Moov’s innovative approach to vehicle finance is designed to give customers access to brand new zero-emission vehicles with a simple registration process, as well as no credit checks, upfront costs or deposits. Other services include regular maintenance, MOT, vehicle insurance, health insurance and a dedicated customer success team, a product offering unmatched by any other company partnering with Uber’s Clean Air Plan.
In addition, Moove customers who ride with Uber can reduce their weekly payments by using funds raised through Uber’s Clean Air Plan to help them cover the costs of switching to an electric car. Uber’s Clean Air Plan has raised over £145m, which equates to around £3,000 per driver. Moove estimates that the 10,000 electric cars it plans to finance by 2025 in London will contribute to a reduction of around 63,000 megatons of carbon dioxide emissions per year.
Ladi Delano, co-founder and co-CEO of Moove, said: “We are proud to have built a business in Africa to now be able to scale our model here in Europe, something no other African fintech company has done before. This marks also a milestone of firsts for us; which we are excited to launch with our first 100% EV fleet. We are excited to expand our partnership with Uber to drive our commitment to the electrification of mobility.”
Andrew Brem, General Manager of Uber UK, said: “Our aim at Uber is to become a 100% electric platform in London by 2025 and we understand that drivers need access to finance if they want to transition to an electric vehicle. Moov’s model will help more Uber drivers switch to pure electric more quickly, to reduce operating costs and help clean up London’s air. With demand from riders higher than ever, our partnership with Moove will benefit both drivers and riders.”
Moove aims to solve many of the pain points customers face when switching to an electric car rather than a petrol or diesel-powered vehicle. Moove has launched the first end-to-end charging experience and complete EV charging network app specifically for motorists called Moove Charge™. The app enables Moove customers to find, control and pay for charging across one of the largest roaming networks in London, covering over 6,600 slow, fast and fast charging points. Together, this makes for a better and easier experience for drivers as well as riders as it allows more electric cars to be on the road and reduced wait times for Uber’s growing customer base.
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